US stock futures climb as federal court rules against Trump's tariffs

The Court of International Trade ruled that the U.S. Constitution grants Congress exclusive authority to regulate commerce with foreign nations — a power not superseded by the president's emergency powers to protect the U.S. economy. "This ruling is a key development, and it will weaken Trump's bargaining power in his ongoing negotiations with the U.S.' key trading partners," National Bank of Kuwait analysts said in a note. The court invalidated with immediate effect all of Trump's orders on tariffs since January that were rooted in the International Emergency Economic Powers Act (IEEPA).